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Author Topic: Free Exchange Advantageous to Miners and Buyers  (Read 872 times)
Donald_Norman
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July 19, 2011, 06:26:35 AM
 #1

So 2 days ago we opened Intersango.us because all the market seems to be focused in the US but there doesn't seem to be as much attention off the bat as we would like. We opened the EUR one and we have done about 1000e worth of transactions in the last few days so maybe the USD site will slowly grow as well. It's an absolutely free service now and we will try to keep it a free service for the foreseeable future. We accept Dwolla and it's a very easy to use site. We also have a strong history of reliability and security because we're the same guys who have for months ran the Britcoin.co.uk site.

MY QUESTIONS:

What can we do to make the site more attractive to miners?

Do miners simply have to cater to the exchanges that buyers go to purchase bitcoins or is there some measure of influence that miners can have in terms of directing traffic?

If so, any tips as to how I could go about spreading awareness of Intersango.us within the mining community and outside it would be incredibly helpful.

We cannot implement any referral program (as our service is for the time being free) and we do not want to spam.

Any suggestions are welcome
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NetTecture
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July 19, 2011, 07:06:23 AM
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Simple.

* SEPA payments, for an acceptable price (1-2 euro per transfer) and a SEPA account to pay to. Yes, you may need client disclosure - guess what,I dont care. My bank knows who I am, my brokers know who I am and the real exchanges I am involved with know exactly who I am. No reason not to sign an agreement with you and provide you with copies of my papers and the registration of my business.
* Better trading interface. They ALL suck, yours is no difference so far. Seriously, Give me something a free of cahrge real broker interface has. If you dont kno what that is, open a dummy account with a broker to see waht a decent trade interface looks like Wink
* Miners possibly would love some automation for larger odrders. VWAP based selling and purchase algos wuold be interesting, so you don't kill the market with one large oder. If you dont know waht VWAP is, talk to someone with real trading experience Wink
* Full disclosure, every month. I mean YOUR balance sheet. How much moeny you have on waht accounts, how much liability you have towards customers. I wont trust ANY brkoe that does not give me safety - as you are unregluated (contrary to any non-btc exchange) the minimum I want is to see you are fniancially sound. Audited.
Donald_Norman
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July 19, 2011, 07:14:20 AM
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Very good ideas,

We already do offer SEPA, With Intersango.com our EUR site. It's only been up for a week and we've only had 1100Euros in trading but it is also free.

The Balance sheet disclosure is a great idea. We are not dealing with a lot of money in our EUR and USD sites yet but I can get us to verify our bitcoin wallet as well as perhaps uploading a monthly statement of our real world account statement. Of course our client information would be kept private, just our total balance would be shown.

Finally, we are working on a new interface and we agree ours isn't the best designed.

I am not a programmer but I understand what a VWAP is. I will ask the lead developer about this. This is very good you brought this to my attention because, although we will be coming out with new features it's best to ask people to better prioritize these things.
Donald_Norman
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July 19, 2011, 07:16:59 AM
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Just to mention, the current interface and software was one genjix designed as a side project. Only once Britcoin.co.uk started getting a lot of attention did we begin actually putting some concerted effort into building it. Still despite the design it has proven itself to be very secure with Britcoin's track record. Genjix is incredibly conservative and rigorous in his testing methodology before making any changes.
Stephen Gornick
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July 19, 2011, 12:50:12 PM
 #5

One thing that might be useful is to be able to instantly transfer coins from one of your exchanges to another.

For example, if I have BTC in the Intersango.us but I see an arbitrage opportunity where I would like to sell those BTC on Britcoin, it would be nice if that transfer could occur instantaneously, rather than having to wait for funds to confirmation.

If all three are operated by the same organization then that should be zero risk.

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